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Foseco India reported a 10% fall in net sales for Mar 19 quarter which stood at Rs 84.16 crore. OPM was higher by about 190 bps to 15.4%, resulting in the OP growth of 2% to Rs 12.95 crore. Other income was higher by 46% to Rs 1.36 crore. Interest and depreciation costs stood at Nil and Rs 0.97 crore respectively, after which PBT stood at Rs 13.34 crore, up by 8% on YoY basis. With total tax of Rs 4.72 crore, up by 8% YoY, PAT for Mar 19 quarter stood at Rs 8.63 crore, up by 9% YoY.
The company reported a 1% increase in net sales for the 12 months ended Dec 18 to Rs 362.16 crore. OPM was down by 50 bps to 13.9%, resulting in a 2% fall in OP to Rs 50.39 crore. Other income stood at Rs 4.43 crore up by 75% YoY. Interest and depreciation costs stood at Rs 0.21 crore and Rs 4.54 crore respectively, after which PBT stood at Rs 50.07 crore, up by 4% YoY. With total tax of Rs 18.04 crore, up by 9% YoY, PAT for 12 months ended Dec 18 stood at Rs 32.03 crore, up by 1% YoY.
Other updates from Annual Report
Lower auto sales during H2 CY 18 affected overall sales in CY 18.
Product mix was adverse which affected the margins in CY 18
No capacity expansion plans
Gradual recovery expected going forward
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